03/06/2022
Former Redcentric CFO sentenced to five and a half years imprisonment
When the true position was revealed, shareholders suffered immediate losses in the value of their shares.
Legal, Regulation & Compliance
03/06/2022
Belgium flexes its AML and regulatory muscle on crypto-service providers
Belgium partially transposed the 5th AML Directive into the Belgian AML Act by way of an act dated 20 July 2020.
03/06/2022
Law modernising the Luxembourg 2004 securitisation law
The Law contains some targeted adaptations to the securitisation regime under the 2004 Law with the aim to clarify certain elements to enhance legal certainty and to ensure continuing flexibility of the Luxembourg securitisation regime adequate for the ma
03/04/2022
FCA taking assertive action to tackle harm in the consumer investments market
The FCA has also revealed that over six months, it opened over 300 cases relating to possible cryptoasset businesses not registered with the FCA
03/04/2022
FCA cracks down on potential crypto scammers
There have been record levels of crypto scams over the last year. This is how the UK’s financial watchdog is responding.
03/04/2022
Where next for UK Market Structure
Speech by Edwin Schooling Latter, Director of Markets and Wholesale Policy and Wholesale Supervision at the FCA
03/04/2022
A Bit too insecure
Tulip, a Seychelles incorporated company, whose ultimate beneficial owner claims to have created Bitcoin under the pseudonym “Satoshi Nakamoto”, was ordered to pay security for costs.
03/04/2022
BlackRock suspends investment in Russia securities
0.01% of client assets now
03/04/2022
Two advice firms fail as one faces 'majority' BSPS claims
So far, the FSCS has paid out more than £36.5mn in compensation to BSPS members as of January 25.
03/04/2022
JCT insolvency ruling: time limit on termination not condition precedent
The court noted that there was no previous authority for this ’creditor vs creditor’ challenge.
03/04/2022
Irish Central Bank issues guidance on insurers’ use of service companies
The guidance is applicable to both insurance and reinsurance undertakings.
03/03/2022
Economic Crime Bill to introduce long-awaited register of foreign beneficial owners of UK land
The Bill also contains provisions to beef up the system of unexplained wealth orders.
03/03/2022
Financial Regulation: Daily Update
The FCA is encouraging ASPSPs to apply the exemption as soon as possible once it comes into effect on 26 March 2022, with a view to widespread adoption by 30 September 2022.
03/03/2022
The new economic crime bill – greater transparency of property ownership in the UK?
Whilst the Bill is introduced in the context of Russia's attack on Ukraine, its impact will not be limited to Russian entities or persons but will affect all non-UK entities operating in the UK.
03/03/2022
Regulator prevents 9 advice firms from phoenixing
While 28 of these were withdrawn once probed, four were rejected due to insufficient information.
03/03/2022
Russia, Ukraine and Belarus - Data Collection Exercise
The data will be used to inform Jersey’s jurisdictional response to the ongoing situation in Ukraine.
03/03/2022
Financial firms should monitor FCA's AR consultation ‘carefully’
There are currently around 40,000 ARs in the UK, with around 16,000 ARs operating in the retail lending industry, and around 12,000 in general insurance and protection.
03/03/2022
High Court: UK director ‘had knowledge’ of company’s VAT fraud
The company also purchased goods from UK entities subject to VAT and then exported them onwards to EU customers VAT free.
03/03/2022
UK ports face Russia sanctions compliance challenge
Francis Tyrrell of Pinsent Masons was commenting after the UK government introduced new legislation aimed at preventing Russian vessels from entering UK ports.
03/02/2022
The UK economic outlook and monetary policy
Speech by Michael Saunders